A Quiet Fed Voice Emerges as Force Inside the Temple

By

Jon Hilsenrath

January 9, 2012

Five years ago, a brainy San Francisco researcher named John Williams co-wrote an academic paper called "Revealing the Secrets of the Temple," in which he argued that the Federal Reserve should be more open about its plans for interest rates.

Mr. Williams, now president of the Federal Reserve Bank of San Francisco, will get what he...